131 King Street E

Nestled in the heart of Cobourg, at 131 King Street E, this remarkable Multi-Family Home for sale in Cobourg presents a unique investment opportunity. Originally constructed in 1956 as a Baptist Church, this property has been thoughtfully transformed into a legal fourplex, offering a multitude of possibilities for prospective buyers. Whether you are looking for a multi-generational living arrangement or an income-generating investment, this property is brimming with potential.

The building, which is a two-storey multiplex, boasts a charming brick exterior that reflects the historical significance of the area. With a generous lot size of 65 X 149 feet, this Multi-Family Home for sale in Cobourg is ideally situated along King Street, providing easy access to the vibrant downtown. The property features a total of ten rooms, including four spacious bedrooms and two additional dens, making it a versatile space for various living arrangements. There are also five bathrooms, ensuring ample facilities for all residents.

One of the standout features of this Multi-Family Home for sale in Cobourg is the presence of two kitchens, which enhances the functionality of the property. This is particularly beneficial for those considering multi-generational living or rental opportunities, as it allows for separate cooking and dining spaces. The two main floor units are designed in a loft style, offering an inviting and unique atmosphere that welcomes you immediately upon entry. Meanwhile, the two lower units provide expansive living areas, each with separate entrances for added privacy.

The property is equipped with a window air conditioning unit to keep residents comfortable during the warmer months. Although there is no central vacuum system or family room, the finished basement offers additional space that can be utilised according to your needs. The charming fireplace adds a touch of warmth and character to the home, making it a delightful place to gather during the cooler months.

Parking is not an issue at this Multi-Family Home for sale in Cobourg, as it boasts a private driveway with space for up to six vehicles. This is particularly advantageous for a property of this nature, where multiple families or tenants may require parking. The absence of a garage does not detract from the appeal of the property, as the ample parking space is more than sufficient.

The location of 131 King Street E, Cobourg, is another significant advantage. Just a short walk away, residents can enjoy the beautiful Cobourg Beach and Marina, as well as a variety of parks, eateries, and grocery markets. The rich history of the area is evident in the surrounding architecture and community spirit, making it a lovely place to call home or invest in.

With its historical charm and modern conveniences, this Multi-Family Home for sale in Cobourg is a must-see for anyone interested in a property that feels much like a traditional home. The potential for excellent revenue generation is evident, and additional details regarding the property features are readily available for prospective buyers. This is a fantastic opportunity to own a piece of Cobourg's history while also benefiting from the various possibilities that this property offers.

In summary, 131 King Street E, Cobourg, is not just a house; it is a versatile multi-unit investment opportunity waiting to be explored. With its legal fourplex status, multiple living arrangements, and prime location, this Multi-Family Home for sale in Cobourg is sure to attract attention. Whether you envision it as a family residence or an income-generating property, the possibilities are endless. Don't miss your chance to view this exceptional property and discover all that it has to offer.

Cobourg, located on the picturesque shores of Lake Ontario in Northumberland County, is a charming town that seamlessly blends historic charm with modern amenities. Known for its beautiful waterfront, Cobourg boasts sandy beaches, a vibrant marina, and a scenic boardwalk, making it an ideal spot for outdoor enthusiasts. The town features a delightful mix of heritage architecture, quaint shops, and inviting cafés, creating a warm and welcoming atmosphere. With a strong sense of community spirit, Cobourg hosts various cultural events and festivals throughout the year, fostering a lively social scene. Its convenient access to major highways and proximity to larger urban centres make it an attractive option for those seeking a peaceful yet connected lifestyle.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. Within a short distance, you will find a variety of schools catering to different educational needs. The closest option is C.R. Gummow School, just 0.8 km away, offering French language instruction for grades SK to 8. For those seeking English-language education, Burnham Public School (2.3 km) provides elementary education from kindergarten to grade 6, while St. Joseph Catholic Elementary School (2.1 km) serves grades JK to 8 within a Catholic framework. Additionally, St. Michael Catholic Elementary School, also 0.8 km away, offers French instruction for JK to grade 6. For secondary education, St. Mary Catholic Secondary School is located 2.6 km from the property, providing a Catholic education for grades 9 to 12. With a mix of public and Catholic schools, as well as options for both English and French language studies, families will find a supportive educational environment in close proximity to their new home.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 643 residents, characterized by an average household size of 1.8 individuals. The demographic profile indicates a mature population, with an average age of 55.8 years. The average household income stands at $117,600, although 19.2% of the population is classified as low-income. The real estate market reflects a high average property price of $785,000, with 44.93% of residents being renters and 40.58% living in condominiums. A significant portion of the community, 45.83%, is single, while households with children make up 18.92% of the population. The area is also home to a diverse demographic, with 17.65% of residents being immigrants. Educational attainment is notable, with 60.5% of the population holding a college or university degree. However, a considerable 67.23% of the population is not actively participating in the labor force, indicating potential challenges in employment opportunities. Overall, this community exhibits a blend of affluence and diversity, with a significant portion of the population being well-educated yet facing economic disparities.